Our team, in cooperation with a Polish law firm, has been advising Ignitis Renewables – a subsidiary of Ignitis Group – on entering into the largest deal this year for development and acquisition of solar parks in Central Europe. Ignitis Renewables will acquire a portfolio of solar parks in Poland from solar developer Sun Investment Group. The total capacity of these projects will reach up to 170 MW.
Poland undergoing energy system transformation
Cutting-edge technological solutions applied in solar parks will allow production of about 190 thousand MWh of electricity yearly, ensuring the energy supply for more than 79 thousand households in Poland and reducing annual CO2 emissions by about 156 thousand tons.
Darius Maikštėnas, Chairman of the Board and CEO of Ignitis Group, said: “The development of green generation in home markets, amongst which is Poland, is one of the most important priorities of sustainable development at Ignitis Group. The agreement on the acquisition of solar power parks in Poland will strengthen our position in the rapidly growing renewable energy market there. The energy system of our neighbouring country is under transformation – dependence on electricity generation from coal is being reduced and turning to green electricity”.
Read more here.
Our services and project team
Our team advised the client on all transaction-related matters. The team was led by partner Sergej Butov and senior associate Inga Macijauskaitė.